NZQA registered unit standard 4695 version 7
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Title Implement the marketing function in real estate firms
Level
Purpose
5 Credits 5
This unit standard is for people who intend to operate as branch managers or agents in the real estate industry.
People credited with this unit standard are able to:
– plan and conduct marketing research for real estate firms;
– demonstrate understanding of real estate market segments and targets, and develop positioning strategies; and
– develop, implement, and measure the effectiveness of two different promotional strategies.
Classification
Available grade
Real Estate > Real Estate Management
Achieved
Explanatory notes
1 References
Consumer Guarantees Act 1993;
Contractual Remedies Act 1979;
Fair Trading Act 1986;
Holidays Act 2003;
Human Rights Act 1993;
Overseas Investment Act 2005;
Overseas Investment Regulations 2005;
Privacy Act 1993;
Real Estate Agents Act 2008;
Residential Tenancies Act 1986;
Unit Titles Act 2010; and all subsequent amendments and replacements.
2 Definitions
Company requirements refer to the market segments used within the company.
Market positioning involves formulating a competitive position for a service.
Market segmentation involves dividing a market into distinct groups of clients and prospects who might require different services.
Market targeting involves evaluating each segment ’s attractiveness and selecting one or more segments to enter.
Marketing function includes
– marketing research, market segmentation, market targeting, and market positioning, to enable marketing, and promotional plans and strategies to be developed.
ElectroTechnology Industry Training Organisation
SSB Code 100401

New Zealand Qualifications Authority 2020

NZQA registered unit standard 4695 version 7
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Marketing research is the function that links the marketer to the client through information that defines marketing opportunities and problems, and marketing performance.
Industry requirements mean all actions must comply with legislation, codes of professional conduct and client care, and approved guides. Legislation is available from http://www.legislation.govt.nz
and codes of professional conduct and client care, and approved guides are available from http://www.reaa.govt.nz
.
Client means the person on whose behalf an agent carries out real estate agency work and is commonly known in the industry as a vendor or seller.
Customer means a person who is a buyer or potential buyer of land or a business and is commonly known in the industry as purchaser or buyer.
Prospective customer means a person who is considering or intending to enter into an agreement for sale and purchase of a property.
Agent means a real estate agent who holds, or is deemed to hold, a current license as an agent under the Real Estate Agents Act 2008.
Agency Agreement means an agreement under which an agent is authorised to undertake real estate agency work for a client in respect of a transaction. It is commonly known in the industry as a listing form.
3 Assessment
This unit standard must be assessed on the basis of evidence of demonstrated performance in the workplace or in simulated work situations designed to draw upon similar performance to that required in the workplace.
Outcome 1
Plan and conduct marketing research for real estate firms.
Evidence requirements
1.1 Planning of market research identifies goals and objectives appropriate to the property and is consistent with the requirements of the client and market conditions.
1.2 The collection and analysis of information is consistent with client and industry requirements.
Outcome 2
Demonstrate understanding of real estate market segments and targets, and develop positioning strategies.
Evidence requirements
2.1 Potential clients and prospective customers are identified as being part of specific market segments consistent with company requirements.
Range market segments include – demographic, geographic, socio- economic, property type, real estate territory.
ElectroTechnology Industry Training Organisation
SSB Code 100401

New Zealand Qualifications Authority 2020

NZQA registered unit standard
2.2
4695 version 7
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Benefits to the organisation of accurate selection of target markets are assessed in terms of satisfying customer needs and allocating marketing resources.
2.3 Segmentation and targeting recommendations that meet specified marketing objectives are developed consistent with client and company requirements.
2.4 Positioning strategies are developed consistent with company requirements.
Range
Outcome 3 may include
– position of company relative to other companies.
Develop, implement, and measure the effectiveness of two different promotional strategies.
Evidence requirements
3.1 Promotional goals, objectives, and budgets are developed consistent with industry requirements.
3.2 Promotional strategies are implemented in accordance with the Fair Trading Act
1986 and industry requirements.
Range strategy may be implemented by but is not limited to – conducting a survey, marketing material, website development.
3.3 Results of promotional activities are measured in ways that are consistent with company requirements.
Range measurement may include but is not limited to – number of hits on website, number of enquiries generated, number of people through open homes, increase in 'brand' awareness through survey.
Planned review date 31 December 2015
ElectroTechnology Industry Training Organisation
SSB Code 100401

New Zealand Qualifications Authority 2020

NZQA registered unit standard 4695 version 7
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Status information and last date for assessment for superseded versions
Process Version Date Last Date for Assessment
Registration
Review
1
2
27 July 1995
26 March 1996
31 December 2013
31 December 2013
Revision
Review
Review
Review
3
4
5
6
13 November 1997
19 January 1999
18 December 2006
12 February 2010
31 December 2013
31 December 2013
31 December 2013
31 December 2013
Rollover and
Revision
7 16 August 2012 N/A
Consent and Moderation Requirements (CMR) reference 0003
This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do
.
Please note
Providers must be granted consent to assess against standards (accredited) by NZQA, before they can report credits from assessment against unit standards or deliver courses of study leading to that assessment.
Industry Training Organisations must be granted consent to assess against standards by
NZQA before they can register credits from assessment against unit standards.
Providers and Industry Training Organisations, which have been granted consent and which are assessing against unit standards must engage with the moderation system that applies to those standards.
Requirements for consent to assess and an outline of the moderation system that applies to this standard are outlined in the Consent and Moderation Requirements (CMR). The
CMR also includes useful information about special requirements for organisations wishing to develop education and training programmes, such as minimum qualifications for tutors and assessors, and special resource requirements.
Comments on this unit standard
Please contact the ElectroTechnology Industry Training Organisation at reviewcomments@etito.co.nz
if you wish to suggest changes to the content of this unit standard.
ElectroTechnology Industry Training Organisation
SSB Code 100401

New Zealand Qualifications Authority 2020